Was hoping to get some advice and suggestions for a lease buyout on a 2022 Tundra 1794 edition. Residual value is just over 44k. I only have 23k miles on it and plan to keep it. Are there any fees or extra charges that I should keep an eye out for and try to avoid?
Plan is to finance the lease buyout through Toyota Financial, but open to any suggestions on that as well. Thanks in advance for any and all help.
Why did you pick TFS?
Definitely dont do that, Toyota is not going to give you a competetive APR on a used Tundra
Use a credit union or your own bank
Seemed convenient since that’s who the lease was through. Haven’t picked them yet.
You can use any bank or credit union you want.
A few years ago I considered buying out my TFS lease and on the phone w/ TFS rep, she indicated all loans would have to be originated by the dealer for TFS loans, which at that point instantly means a dealer will add some fees and other BS. The “only a dealer can originate a TFS loan” may be a state dependent thing however as mentioned its unlikely to be a competitive rate. The vehicle I inquired about initially was eventually sold to Carmax instead so that’s as far as I got in the process.
We do have this Wiki in LH that may be worth checking through:
The Best Finance Rates & Hacks! Submit your CU recommendations! - Wiki - Leasehackr Forum
3 posts were split to a new topic: Toyota Land Cruiser 1958 – Deal Check
This is not a Toyota, but to buy out my Volvo I had my credit union mail directly to VCFS a check for the then-accurate payoff. This bypasses the dealership in its entirety.
If you log on to your portal you will see a payoff amount. They should not care from whom the check is sent, so long as they get their money.
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